Match Group pops 10% as dating company shows early signs of a turnaround https://t.co/7Pr6qY5IHl
TINDER PLANS MAJOR REVAMP — TESTING NEW REDESIGN, DATING “MODES,” AND COLLEGE‑ONLY FEATURES TO DRIVE USER ENGAGEMENT: TECH CRUNCH
Sold $MTCH & bought $BMBL $BMBL Q3 QTD credit card data looking hot
Match Group reported second-quarter revenue of $863.7 million, topping analysts’ $853.6 million estimate despite slipping 1% from a year earlier. Adjusted earnings were unchanged at $0.49 a share, matching expectations, while adjusted operating income reached $290 million. The number of paying users fell 5% to 14.1 million, but revenue per payer improved 5% to $20, helping offset softness at flagship app Tinder. The Dallas-based company projected third-quarter revenue of $910 million to $920 million and adjusted operating income of up to $335 million, both ahead of Wall Street forecasts. Management also said full-year sales should land at the high end of its prior range. Chief Executive Officer Spencer Raskoff told investors the firm is “operating like a company that is just getting started,” and outlined a three-phase turnaround centred on product upgrades, trust and safety features, and broader use of artificial intelligence. Tinder will test a full redesign in the current quarter, introduce configurable dating “modes” and roll out college-only search tools, part of a $50 million product-development push aimed at winning back Gen Z users. Sister brand Hinge is expected to benefit from similar AI-driven features and international expansion plans. Investors welcomed the stronger outlook and product roadmap. Match Group shares climbed about 10% in early New York trading, and Goldman Sachs raised its price target to $42 from $39, citing accelerating product initiatives and an improving revenue trajectory.
